Cherry Bar Buy Fellow Live Music Venue Yah Yah's

The team behind Melbourne live music venue Cherry Bar have bought Fitzroy haunt Yah Yah's and have vowed to retain it as a live music venue.

The venue – which has a lucrative 5am license – has been on the market for a number of months and while it was 'business as usual' during the listing process there was no guarantee on a potential new owner's plans.

Today Cherry co-owners 'Lazy' Pete Lewis and James Young confirmed the purchase from Jon Perring and Andy Portokallis. After a 60 day settlement Cherry have confirmed that the name will remain the same at it will continue as a late night music venue.

“We heard there was real interest from some restaurateurs in buying Yah Yah's,” Young said today. “Not on my watch! Melbourne needs every live music venue it has.”

Perring and Portokallis said they were “wrapt to sell to like minded people and keep Yah Yah's in the rock'n'roll family.”

Yah Yah's has gigs booked for Twin Lakes, The Braves, The Grand Rapids and I Am The Riot in the coming month.

Historic St Kilda venue The Espy remains on the market.